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By John Waithaka
President William Ruto on Monday led the nation in celebrating the second anniversary of the Hustler Fund, a groundbreaking financial inclusion initiative that has redefined access to credit for millions of Kenyans.
Launched to uplift informal sector workers—who make up over 80% of the country’s workforce and contribute 33% to the Gross Domestic Product (GDP)—the Hustler Fund has become a beacon of hope for individuals at the bottom of the economic pyramid.
In his address, President Ruto emphasized the government’s commitment to fostering financial independence through targeted interventions. “The Hustler Fund is not just a financial tool; it is a statement that every Kenyan deserves an opportunity to thrive, regardless of their economic status,” he remarked.
Marking the milestone, the President announced a series of enhancements to the Fund designed to reward discipline and encourage economic growth. Consistent borrowers will now enjoy higher credit limits as recognition for their repayment discipline. Additionally, borrowers can use their credit scores as collateral to secure larger loans, breaking barriers to traditional collateral requirements. The repayment window for diligent borrowers has also been extended from 14 days to one month, offering more flexibility.
In a significant boost, President Ruto unveiled the Bridge Loan, a new product targeting Hustler Fund Personal Loan customers with a history of good borrowing behavior. The product grants access to higher limits and longer repayment periods, bridging the gap between small-scale borrowing and financial stability. “This is more than a loan; it’s a bridge to better opportunities and economic stability,” the President noted.
Highlighting the transformative power of the Hustler Fund, President Ruto announced that over two million customers with strong credit histories will be transitioned to formal banking systems. This move aims to deepen financial inclusion and open doors to more comprehensive financial services.
Two years on, the Hustler Fund has cemented its place as a revolutionary tool for financial inclusion, driving social and economic transformation. With its revamped features and new products, the Fund is poised to empower millions more, reaffirming its mission to uplift and liberate Kenyans from economic barriers.
The Hustler Fund story is one of resilience, empowerment, and hope—a testament to what is possible when a nation commits to leaving no one behind.
The Principal Secretary State Department of Micro Small Enterprises development, which houses the Hustler fund, Susan Mangeni had this to say on the transformative power of this phenomenal financial inclusion instrument. “Hustler Fund is a credit card that we have offered to Kenyans especially those at the bottom of the economic pyramid to access credit and meet their needs in a dignified manner. We are the first economy in the region and we could even be the first in the world to have come up with such a deliberate and international intervention of depleting financial inclusion in our society.”
